# Car IQ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/car-iq

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.cariqpay.com
- Total disclosed funding: $38M
- Latest round: Series B (Feb 7, 2023)
- Investors on record: 19

## About

Car IQ Inc. is a US-based company specializing in fleet payment solutions that facilitate seamless vehicle transactions, enhancing operational efficiency for businesses managing vehicle fleets.Car IQ Inc. was founded in 2016 and is headquartered in Oakland, US. The company operates a fleet payments platform enabling vehicles to conduct transactions autonomously. The most recent funding round was a Series B, raising USD 15.000 mn on February 7, 2023, with notable investors including Forte Capital Management, Avanta Ventures, and Visa Ventures. The total amount raised by the company is USD 15.000 mn, with a current valuation of USD 150.696 mn. CEO Sterling Pratz leads the firm, which has engaged in six funding deals to date.Car IQ specializes in a fleet payments platform designed to streamline vehicle-related transactions for fleet-operating businesses. The platform allows vehicles to connect directly with fuel pumps and tolling gantries, reducing the need for traditional fuel cards and simplifying payment management. Key features include real-time transaction validation, fraud prevention, and seamless integration with existing telematics, providing fleet managers with comprehensive transaction visibility on a unified dashboard.Car IQ generates revenue through a subscription-based model, where clients pay for access to the fleet payments platform. This facilitates direct B2B interactions for managing fuel and toll expenses, allowing clients to authorize payments dynamically based on actual vehicle needs, thereby controlling costs associated with fuel purchases. The platform's design aims to enhance efficiency and reduce fraud while delivering measurable savings to clients.In February 2023, Car IQ Inc. raised USD 15.000 mn in Series B funding, primarily to accelerate the development of its payment platform. In July 2025, Car IQ Inc. raised USD 8 million in venture funding led by new investor FT Partners. The company aims to expand its autonomous vehicle payment platform to new fleet, banking, and automotive customers and pursue institutional partnerships.

## Funding rounds

- Series B, Feb 7, 2023, $15M — EnerTech Capital, TELUS Ventures, International Motors USA, Forte Ventures, State Farm Ventures, Visa Ventures, Avanta Ventures, Bridgestone, Circle K Ventures
- Series B, Aug 11, 2021, $15M — TELUS Ventures, Quest Venture Partners, BlackBerry Ltd, Forte Ventures, Citi Ventures, Scrum Ventures, Ally Ventures, State Farm Ventures, Alpana Ventures, Avanta Ventures
- Series A, Apr 30, 2019, $6.5M — Band of Angels, Quest Venture Partners, Plug and Play, Citi Ventures, Alumni Ventures Group, Alpana Ventures, Avanta Ventures
- Seed, Nov 1, 2017, $0.3M — Alpana Ventures
- Seed, Feb 1, 2017, $1M — Band of Angels, Polytech Ventures, Alpana Ventures

## Investors

- Band of Angels (https://capitalatlas.ai/funds/band-of-angels) — Seed, Series A
- Polytech Ventures (https://capitalatlas.ai/funds/polytech-ventures) — Seed
- Alpana Ventures (https://capitalatlas.ai/funds/alpana-ventures) — Seed, Series A, Series B
- Quest Venture Partners (https://capitalatlas.ai/funds/quest-venture-partners) — Series A, Series B
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series A
- Citi Ventures (https://capitalatlas.ai/funds/citi-ventures) — Series A, Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series A
- Avanta Ventures (https://capitalatlas.ai/funds/avanta-ventures) — Series A, Series B
- TELUS Ventures (https://capitalatlas.ai/funds/telus-ventures) — Series B
- BlackBerry Ltd — Series B
- Forte Ventures (https://capitalatlas.ai/funds/forte-ventures) — Series B
- Scrum Ventures (https://capitalatlas.ai/funds/scrum-ventures) — Series B
- Ally Ventures (https://capitalatlas.ai/funds/ally-ventures) — Series B
- State Farm Ventures (https://capitalatlas.ai/funds/state-farm-ventures) — Series B
- EnerTech Capital (https://capitalatlas.ai/funds/enertech-capital) — Series B
- International Motors USA — Series B
- Visa Ventures (https://capitalatlas.ai/funds/visa-ventures) — Series B
- Bridgestone — Series B
- Circle K Ventures (https://capitalatlas.ai/funds/circle-k-ventures) — Series B